Powell says free trade key to bringing hope to developing world

Free trade and open markets are key to improving lives and generating hope throughout the world, Secretary of State Colin L. Powell told an audience of private-sector executives meeting in conjunction with the Asia Pacific Economic Cooperation (APEC) leaders meeting in Bangkok, Thailand.

In October 20 comments to the executives, Powell said that in the APEC ministerial meetings that took place October 17-18 on security, trade, technology and economic growth, "what we were really talking about was hope, what we need to do to bring more hope to the peoples of the world, the peoples of this region."

"Hope is lost on those who lack the very basics of life: fresh air, clean water, arable land. Hope means nothing to those who are struggling under brutal dictatorships and arrogant kleptocracies," said Powell.

Powell called hope a "mere concept and with no meaning" to millions of people who are malnourished, sick and suffering, but said trade has the potential to empower and lift people from poverty.

"The reason that we focus on free trade and open trade, is that it is the only way, truly, at the end of the day, to lift whole societies out of poverty, to generate optimism, to help people help themselves, to put meaning into democracy and the beliefs we have in free open economic systems," Powell told the group of CEOs.

"The United States is committed to free and open trade, removing all barriers to trade possible, as the surest way to bring hope to the undeveloped world," said Powell in reference to U.S. efforts to conclude bilateral and multilateral trade agreements.

The secretary also told the executives that security issues have been integrated into APEC discussions, not as a "stand-alone item," but as an overall effort consistent with the original purpose of APEC -- to facilitate economic growth, trade and investment in the Asia-Pacific region.

Discussing the security threat facing Asia with the prospect of nuclear weapons in North Korea, Powell reiterated the U.S. commitment to reach a diplomatic solution and work with interested parties to "achieve a complete, irreversible, and verifiable dismantlement of North Korea's nuclear weapons program."

Powell said the six-party multilateral approach including South Korea, Japan, China, and Russia is more appropriate than bilateral U.S.-North Korea talks would be, to address the threat to regional security.

He called North Korea a country that is "starving its people to pursue wasteful ambitions," but said the U.S. has no intention of invading or attacking North Korea.

"Now we're all working together in partnership to persuade the North Koreans that not only is nobody planning to invade you, but so much more can be done for you if you get rid of this weapons program that will achieve nothing for you and really would just keep you in a continuing position of despair and failed economic policy and a hungry people," said Powell, citing U.S. cooperation with the Chinese and other states involved in multilateral talks with North Korea.

Following is the transcript of Powell's remarks >>>